Characterization of income - rental income earned by the ...

Income Tax

April 8, 2022

Characterization of income - rental income earned by the assessee as income from the business - The parting of possession of godown, particularly in the circumstances of the case, is more as an owner of a business asset, but not for exploiting a commercial asset. Assessing Officer, the Appellate Authority, and the Tribunal have considered the case in the right perspective and disallowed the claim of rental income as business income. - HC

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Characterization of income - rental income earned by the ...

Income Tax

April 8, 2022

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